Wolverine Asset Management LLC Acquires New Shares in UL Solutions Inc. $ULS

Wolverine Asset Management LLC acquired a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,000 shares of the company’s stock, valued at approximately $1,384,000.

Other institutional investors also recently modified their holdings of the company. Elequin Capital LP purchased a new stake in shares of UL Solutions during the first quarter valued at $31,000. Rhumbline Advisers purchased a new stake in shares of UL Solutions during the first quarter valued at $49,000. LRI Investments LLC purchased a new stake in shares of UL Solutions during the second quarter valued at $128,000. Argent Trust Co purchased a new stake in shares of UL Solutions during the first quarter valued at $208,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of UL Solutions by 1,501.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,979 shares of the company’s stock valued at $217,000 after buying an additional 2,793 shares during the last quarter.

UL Solutions Stock Down 0.7%

Shares of ULS opened at $77.78 on Friday. The company has a market capitalization of $15.63 billion, a PE ratio of 48.01 and a beta of 1.04. The business’s 50 day moving average is $70.69 and its 200 day moving average is $69.13. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. UL Solutions Inc. has a 12-month low of $48.54 and a 12-month high of $81.84.

UL Solutions (NYSE:ULS) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $771.55 million. UL Solutions had a return on equity of 37.33% and a net margin of 11.08%.The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. Research analysts expect that UL Solutions Inc. will post 1.69 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 29th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. UL Solutions’s dividend payout ratio (DPR) is currently 32.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ULS shares. UBS Group increased their target price on UL Solutions from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of UL Solutions in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on UL Solutions from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, UL Solutions has an average rating of “Moderate Buy” and a consensus target price of $71.57.

UL Solutions Company Profile

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.